Signals: Weekend Update July 8, 2016.

For those of you who have inquired, the "Yi" is my own proprietary overbought/oversold indicator. A +10 reading generally indicates we are overbought in the overall market, and -4 or a -5 reading is telling us the market is a bit oversold. The "zero line" in between the plus and minus readings will sometimes act as an area of support or resistance, so I tend to keep an eye on that level also. A reading of +20 is extremely overbought, and a -10 indicates the market is extremely oversold.

Friday, July 8, 2016

Weekend Update July 8, 2016.

Average oversold: NAT
Moderately oversold: USO
Attempting to hold the 28 DMA here: PHI
Up against falling trend line resistance: MCD, MSI, NCR, QCLN, STX
Up against the 28 day moving average: MCD and NCR
Up against rising trend line resistance: ORCL
Moderately overbought: LEN, LOW, MED, MTH, QLD, SCHB, VOT, WFM
Average overbought: LPL, PEP, Q
Toppy here: PAYX and PEGI
A break out in either direction is on the way for: PTEN and XLE
Anything posted here may be off base depending on market conditions.

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